BuzzMedia will buy Spin Media, the owner of Spin Magazine, the two companies announced yesterday.Spin Magazine is best known for its 27-year-old print magazine, a mainstay in the alternative music industry. But the publication has expanded its digital offerings in recent years, culminating in an enviably designed iPad app called Spin Play.What makes the Spin Play so great is that it uses the uniqueness of the tablet medium to its advantage — readers can stream music relating to articles from within the app or purchase the songs on iTunes, netting Spin a nominal profit from the sale. Each issue of the magazine is available through the app in either one-off sales ($1.99) or as part of an annual subscription ($7.99).No financial terms of the deal were disclosed, but The New York Times reported that the last time Spin Media was sold, in 2006 to the publisher McEvoy Group, it was for less than $5 million. The company also has revenues from advertising and a live events business.There’s some speculation that the sale might mean the death knell of the print publication (despite its appeal to advertisers), especially given BuzzMedia’s portfolio. While I’m not a fanatic about the death of print, this may actually be an appropriate evolution – digital and online environments are far better equipped than print to give music lovers a multi-media experience they’ll willing to pay for, and pay for on a subscription basis.
Spin’s Subscription iPad App Acquired by BuzzMedia, Along With Other Assets
BuzzMedia will buy Spin Media, the owner of Spin Magazine, the two companies announced yesterday. Spin Magazine is best known for its 27-year-old print